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29 Feb 2024, 15:08
Kudos
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HBS Internship Employment: 2022 vs 2023
The internship landscape at Harvard Business School (HBS) is a critical indicator of evolving industry trends and student preferences. In this analysis, we examine changes in internship dynamics between the summers of 2022 and 2023, focusing on industry, function, and geographical shifts among HBS students. It is important to note that while percentage splits are available, actual figures regarding the total number of students securing internships are not disclosed. Thus, despite consistent class sizes over the two years, variations in total internship numbers may occur.
1. Trends in Basics: Although the percentage of students actively seeking employment dipped slightly from 85% in 2022 to 81% in 2023, there was a modest decrease in the median monthly base salary from $9,500 to $9,187. These changes suggest a potentially more competitive job market or shifts in student priorities regarding compensation versus other career aspects.
2. Industry-wise Analysis: Key changes in industry preferences are evident. Consulting, a perennial favorite, saw a decline from 15% in 2022 to 11% in 2023, while interest in sectors like Private Equity and Manufacturing surged. Notably, the Technology sector experienced a substantial decrease from 28% to 17%, indicating possible realignments in career aspirations.
3. Function-wise Analysis: Functions such as Finance witnessed significant growth, rising from 32% in 2022 to 39% in 2023, while Consulting and Marketing experienced declines. The uptick in interest in Business Development and Finance underscores evolving skill demands and career trajectories.
4. Location-wise Analysis: Geographical preferences displayed nuanced shifts, with the Northeast remaining the top choice, albeit with a slight decrease from 52% to 50%. Increases in international placements and modest declines in the West suggest evolving global perspectives among HBS students.
Source: https://www.hbs.edu/recruiting/employment-data/Pages/default.aspx?year=2024&view=internship
The internship landscape at Harvard Business School (HBS) is a critical indicator of evolving industry trends and student preferences. In this analysis, we examine changes in internship dynamics between the summers of 2022 and 2023, focusing on industry, function, and geographical shifts among HBS students. It is important to note that while percentage splits are available, actual figures regarding the total number of students securing internships are not disclosed. Thus, despite consistent class sizes over the two years, variations in total internship numbers may occur.
1. Trends in Basics: Although the percentage of students actively seeking employment dipped slightly from 85% in 2022 to 81% in 2023, there was a modest decrease in the median monthly base salary from $9,500 to $9,187. These changes suggest a potentially more competitive job market or shifts in student priorities regarding compensation versus other career aspects.
| 2022 | 2023 | |
| Seeking Employment | 85% | 81% |
| Median Monthly Base Salary | $9,500.00 | $9,187.00 |
2. Industry-wise Analysis: Key changes in industry preferences are evident. Consulting, a perennial favorite, saw a decline from 15% in 2022 to 11% in 2023, while interest in sectors like Private Equity and Manufacturing surged. Notably, the Technology sector experienced a substantial decrease from 28% to 17%, indicating possible realignments in career aspirations.
| Industry | 2022 | 2023 |
| Consulting | 15% | 11% |
| Consumer Product | 4% | 5% |
| Entertainment/Media | 3% | 3% |
| Healthcare | 6% | 8% |
| Investment Banking | 2% | 4% |
| Investment Management/Hedge Fund | 6% | 8% |
| Manufacturing | 4% | 8% |
| Non Profit/Government | 3% | 5% |
| Other Financial Services | 2% | 2% |
| Private Equity | 11% | 14% |
| Retail | 2% | 3% |
| Services | 4% | 4% |
| Technology | 28% | 17% |
| Venture Capital | 10% | 9% |
3. Function-wise Analysis: Functions such as Finance witnessed significant growth, rising from 32% in 2022 to 39% in 2023, while Consulting and Marketing experienced declines. The uptick in interest in Business Development and Finance underscores evolving skill demands and career trajectories.
| Function | 2022 | 2023 |
| Business Development | 12% | 15% |
| Consulting | 16% | 13% |
| Finance | 32% | 39% |
| General Management | 8% | 8% |
| Marketing | 15% | 11% |
| Others | 5% | 4% |
| Strategic Planning | 12% | 10% |
4. Location-wise Analysis: Geographical preferences displayed nuanced shifts, with the Northeast remaining the top choice, albeit with a slight decrease from 52% to 50%. Increases in international placements and modest declines in the West suggest evolving global perspectives among HBS students.
| Location | 2022 | 2023 |
| Mid Atlantic | 3% | 4% |
| Midwest | 3% | 4% |
| Northeast | 52% | 50% |
| South | 3% | 2% |
| Southwest | 4% | 5% |
| West | 24% | 21% |
| International | 11% | 13% |
Source: https://www.hbs.edu/recruiting/employment-data/Pages/default.aspx?year=2024&view=internship
Quote:
Stay tuned for upcoming posts featuring detailed comparative analyses of full-time employment versus internships across various business schools. Follow me for the latest updates and insights.
29 Feb 2024, 15:11
Kudos
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Thanks so much for sharing!
I can see the trend of Tech going down even at HBS (which should not be surprising; nothing and nobody is immune. It is not like HBS are not humans).
This confirms what we have known or suspected: :angel:
I can see the trend of Tech going down even at HBS (which should not be surprising; nothing and nobody is immune. It is not like HBS are not humans).
This confirms what we have known or suspected: :angel:
- Tech is down
- Consulting is down (no matter what some UNC and McCombs students claim in the chats)
